Blockchain technology news

The experimentation in the Lombardy Region of the use of blockchain technology in an anti-bureaucracy key on the 'Free Nests' measure, which allows zeroing of the nest fee, in Cinisello Balsamo pilot municipality in Italy has officially opened.

One of the requirements of the blockchain to change a chain lock is that this decision is validated by the majority of decision-making power. Nothing could be more democratic, one would say. That's why it was initially seen as a system without masters where everyone can participate, in theory. Many Italians doubt whether technologies including cryptocurrencies, smart contracts, etc. are secure or not.

In the development paths of Industry 4.0 the Blockchain is called to play an increasingly important role and it is now clear that this technology can allow many Italian companies to find new forms of efficiency and new competitiveness. However, the big theme and challenge is to clearly identify where and how the blockchain brings new value.

The president of the Italian fashion system (SMI), Parla Marino Vago, has outlined the outlook for the sector and explained how innovations such as blockchain technology are meant to revolutionize this key asset of the Italian economy. The Blockchain and distributed ledger technology (DLT) will help to improve the traceability of fashion products that are Made in Italy.

South Korean international conglomerate corporation LG Electronics made it clear on September 15, 2019, that it is planning to release its own blockchain-based smartphone. This has therefore confirmed the rumors that has been circulating the market. The electronics giant will become one of the few mobile phone manufacturers to join the cryptocurrency industry.

One of the most state-of-the-art projects established by Italian fashion remains held in the shoals of politics. The blockchain project of the textile supply chain, rolled out last winter by the Ministry for Economic Development (MiSE), to which Sistema Moda Italia (SMI) is also collaborating together with International Business Machines Corporation (IBM), an American IT company, chosen as its technological partner, has actually hopped some strategic steps. And now it remains tentatively on standby, the time variable being a central factor for the success of this technological standard.

Former United States Democratic Congressman from Tennessee’s 9th congressional district Harold Ford Jr. has suggested that Washington should try to avoid half-measures as far as cryptocurrency legislation is concerned. A successful financial managing director believes that the government has been slow to react to the cryptocurrency and blockchain industry, and thinks that this might damage innovation in the future.

Blockchain technology is playing a big role in publishing and there are some interesting projects underway. The Italian print media and publishing industry is progressively joining the distributed ledger technology (DLT) arena. However, as big companies are trying to use blockchain to enhance their supply chain, the creative industries are testing and utilizing the technology to rise reporters' responsibility and to attempt to get rid of the trust factor.

The European Union is interested in the cryptocurrency and blockchain revolution, a thing that has helped it to put digital innovation at the top of its strategies for the economic development of the continent. Principally, the European Commission has placed at the center of its action the formation of a related digital single market, in the awareness that information and communication technologies constitute the very foundation of all new state-of-the-art economic systems.